Hsbc Holdings PLC Purchases 17,273 Shares of RPC, Inc. (NYSE:RES)

Hsbc Holdings PLC boosted its position in RPC, Inc. (NYSE:RES) by 54.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 48,739 shares of the oil and gas company’s stock after acquiring an additional 17,273 shares during the period. Hsbc Holdings PLC’s holdings in RPC were worth $308,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC raised its position in shares of RPC by 38.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,136 shares in the last quarter. Edgestream Partners L.P. purchased a new position in RPC during the second quarter valued at approximately $3,814,000. Dimensional Fund Advisors LP boosted its stake in shares of RPC by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock worth $65,353,000 after acquiring an additional 769,578 shares during the period. BOKF NA grew its holdings in RPC by 130.4% during the 2nd quarter. BOKF NA now owns 73,232 shares of the oil and gas company’s stock valued at $458,000 after purchasing an additional 41,443 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in RPC by 24.1% in the second quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock worth $13,977,000 after buying an additional 434,849 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Susquehanna dropped their target price on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Citigroup lowered their price objective on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th.

RPC Price Performance

NYSE:RES opened at $6.85 on Friday. The stock has a market cap of $1.47 billion, a PE ratio of 9.79 and a beta of 1.55. The stock’s 50-day moving average is $6.41 and its two-hundred day moving average is $6.71. RPC, Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $9.26.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The business had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. During the same period in the prior year, the business posted $0.30 earnings per share. RPC’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that RPC, Inc. will post 0.56 earnings per share for the current year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.04 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.16 annualized dividend and a yield of 2.34%. RPC’s dividend payout ratio is 22.86%.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.